Notes Payable
 12 Months Ended
Dec. 31, 2018
Notes Payable [Abstract]  
Notes Payable
Notes Payable
The Company had $467,786,000 principal outstanding in notes payable collateralized by real estate properties as of December 31, 2018. As of December 31, 2018, the notes payable weighted average interest rate was 4.4%.
The following table summarizes the notes payable balances as of December 31, 2018 and 2017 (amounts in thousands):
 
 
 
 
 
Interest Rates
 
 
 
 
 
December 31, 2018
 
December 31, 2017
 
Range
 
Weighted
Average
 
Maturity Date
Fixed rate notes payable
$
220,351

 
$
220,436

 
4.0%
-
4.8%
 
4.3%
 
12/11/2021
-
07/01/2027
Variable rate notes payable fixed through interest rate swaps
247,435

 
247,699

 
3.7%
-
5.1%
 
4.6%
 
10/28/2021
-
11/16/2022
Total notes payable, principal amount outstanding
$
467,786

 
$
468,135

 
 
 
 
 
 
 
 
 
 
Unamortized deferred financing costs related to notes payable
(3,441
)
 
(4,393
)
 
 
 
 
 
 
 
 
 
 
Total notes payable, net of deferred financing costs
$
464,345

 
$
463,742

 
 
 
 
 
 
 
 
 
 

The Company did not enter into any notes payable during the year ended December 31, 2018.
The principal payments due on the notes payable as of December 31, 2018, for each of the next five years ending December 31 and thereafter, are as follows (amounts in thousands):
Year
 
Total Amount
2019
 
$
1,937

2020
 
4,530

2021
 
155,207

2022
 
164,971

2023
 
2,712

Thereafter
 
138,429

 
 
$
467,786